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Encyclopedia > Poverty Reduction Strategy

Poverty Reduction Strategy Papers (PRSPs) are in many ways the replacement for Structural Adjustment Programs, and are documents required by the IMF and World Bank before a country can be considered for debt relief within the HIPC programme. According to the IMF: Structural adjustment is a term used by the International Monetary Fund for the changes it recommends for developing countries. ... The flag of the International Monetary Fund (IMF) The International Monetary Fund (IMF) is the international organization entrusted with overseeing the global financial system by monitoring foreign exchange rates and balance of payments, as well as offering technical and financial assistance when asked. ... Logo of the World Bank The International Bank for Reconstruction and Development (IBRD, in Romance languages: BIRD), better known as the World Bank, is an international organization whose original mission was to finance the reconstruction of nations devastated by WWII. Now, its mission has expanded to fight poverty by means... Debt relief is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations. ... The Heavily Indebted Poor Countries (HIPC) initiative aims at assisting the worlds poorest countries by bringing their external debt to sustainable levels, conditional on their governments showing satisfactory performance levels. ...

Poverty Reduction Strategy Papers (PRSP) are prepared by the member countries through a participatory process involving domestic stakeholders as well as external development partners, including the World Bank and International Monetary Fund.

Critics argue that the criteria used to judge PRSPs by the World Bank and IMF are actually used to impose neo-liberal policies along the lines of the Washington Consensus, and that these policies tend to increase poverty rather than decreasing it. The term neoliberalism is used to describe a political-economic philosophy that had major implications for government policies beginning in the 1970s – and increasingly prominent since 1980 – that de-emphasizes or rejects positive government intervention in the economy, focusing instead on achieving progress and even social justice by encouraging free... The Washington Consensus is a set of policies promulgated by many neoliberal economists as a formula for promoting economic growth in many parts of Latin America by introducing various economic reforms which are designed to make the target economy more like that of First World countries such as the United...

See also

This article needs to be wikified. ...

Further reading

  • Jeremy Gould (ed), The New Conditionality: The Politics of Poverty Reduction Strategies, Zed Books 2005

External links

  • PRSPs at the IMF
  • PRSPs at the World Bank
  • Jubilee Research: "Debt Relief and PRSPs in Africa
  • Third World Network Paper on PRSPs
  • 50 Years Is Enough: "PRSP: Whitewashing Blackmail"
  • Albee et al (2005) Decent Work and Poverty Reduction Strategies (PRSs): A reference manual for ILO staff and constituentsIncluding over 500 web-links to resource material

  Results from FactBites:
Pakistan - Piloting Provincial and District Poverty Reduction Strategies in Punjab - ADB.org (1623 words)
Poverty in the rural areas of Punjab in FY1999 was estimated to be 36 percent and 25.5 percent in the urban areas.
Regionally also, the increase in poverty in Punjab was pervasive: poverty increased from 10.3 percent in FY1993 to 24.4 percent in FY1999 in Northern Punjab, from 27.5 percent to 31 percent in Central Punjab, and from 31.6 percent to 38.9 percent in Southern Punjab.
The first component is supporting the preparation of the Punjab provincial poverty reduction strategy; the second component is facilitating preparatory and consultative work on strategy preparation in the 34 districts of Punjab; and the third component is facilitating preparation of poverty reduction strategies in 10 districts.
Background - National Poverty Reduction Strategies - ADB.org (492 words)
In implementing its Poverty Reduction Strategy, ADB is committed to help DMCs prepare their respective national poverty reduction strategies in a participatory manner, and in collaboration with other international organizations and bilateral donors.
The formulation of national poverty reduction strategies that have obtained consensus among the DMC constituents is a priority exercise, Such strategies are the basis of ADB's Poverty Partnership Agreements (PPA), and will drive the formulation of Country Strategies and Programs (CSPs) for each DMC.
The Poverty Reduction Cooperation Fund (PRF) is a $58 million grant facility from the Government of the United Kingdom and Northern Ireland.
  More results at FactBites »



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